NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

What Are Cities Worth? Land Rents, Local Productivity, and the Capitalization of Amenity Values

David Albouy

NBER Working Paper No. 14981
Issued in May 2009

---- Acknowledgements -----

I would like to thank Bob Barsky, John Bound, Rob Gillezeau, Michael Greenstone, Andrew Hanson, Andrew Haughwout, Jim Hines, Ryan Kellogg, Fabian Lange, Anne Mandich, Peter Mieskowski, John Quigley, Jordan Rappaport, Stuart Rosenthal, Michael Rossi, Nathan Seegert, Bryan Stuart and the participants of seminars at the Federal Reserve Banks of Kansas City and New York, Aarhus, Essex, LSE, Rice, Texas A&M, UC Berkeley (Haas), UI-Chicago, Maryland, Michigan, Virginia, and Hebrew. Kevin A. Crosby and Bert Lue provided excellent and diligent research assistance. The Center for Local, State, and Urban Policy (CLOSUP) at the University of Michigan and the National Science Foundation (Grant SES-0922340) provided valuable support. Any mistakes are my own. Please e-mail any questions or comments to albouy@illinois.edu. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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